How one Chinese company’s AI tool has slashed trillions from the US stock market, and revealed a future for technology without American tech hegemony. By

DeepSeek-R1, the latest in a series of models developed with fewer chips and at low cost, is challenging the dominance of OpenAI, Google, and Meta. View on euronews

The start-up had become a key player in the “Chinese Large-Model Technology Avengers Team” that would counter US AI dominance, said another. China’s delight, however, spelled pain for several giant US technology companies as investors questioned whether DeepSeek’s breakthrough undermined the case for their colossal spending on AI infrastructure.